New! Improved! But, Do You Know Who Cares?

“Erroneous assumptions can be disastrous.”

Peter Drucker, (1909 – 2005) one of my all time favorite authors  

Many companies are keen to introduce “new and improved” products or services. Yet, all too often these new innovations are useful to the company but not the customers or clients they aim to serve. Example: a self check-out lane may help a company reduce the number of cashiers it needs but may be a hassle for customers who are baffled by the new machines.

Action: Evaluate new innovations through the lens of the market — not just the lens of your company. Before you roll out a new service, feature, or product under the “new and improved” umbrella, be sure to understand whether it is something your prospects and client want or need.

In organizational change management, this evaluation step is called a Stakeholder Impact Analysis. (There are many names that are used as well, but I will stick with this title for now.) This activity is an important for step to allow you to consider all of the groups and people who could be affected by a change or innovation, and in what ways they will be impacted.